You will change your mind about oil when it gets to 150/barrel. There is no other product that touches EVERY part of our economy like oil, nothing. Not just your Ferrari, but its tires, paint, plastic, vinyl, leather processing, aluminum, grease, steel, copper, glass, and yes, even the asphalt or concrete it rolls on. Oops, forgot about the gas.
And how about at home? Lumber, electricity, paint, water, heating, washer & dryer, clothing, dishes, trash hauling, pool heater, lawn mower, tools, etc.
Oh, and the store? Packaging, transportation, flooring, refrigeration, freezers, lighting, ALL types of food processing, etc.
There is nothing, nothing in anyones life that is not touched by petroleum products, whether in manufacturing, distribution or use.
And as to the governments calculation of core inflation? They obviously don’t have to drive to work and feed a family, especially when it comes to the seasonally adjusted bull crap and their swapping of the “basket items”.
You are correct. The cost of energy effects the cost of everything, and it aint pretty
Fuel prices are not going to go down by any substantial amount when China is using more and more of the world supply every day.
We will continue to see gov’t shills trying to convince us everything is under control when they can’t control a damn thing.
Pharmaceuticals, like aspirin and antibiotics, are made from petroleum derivatives. Bandages, surgical implants, hearing aids, tubing, and more....
It’s time to start beating up Democrats over their refusal to allow us to produce and refine more of our own oil and also build nuke plants. This should be a huge campaign issue for Republicans. Get on it!!